DeFi Yield Protocol’s NFT Marketplace is a new platform for creators and collectors to mint and trade NFTs. Everyone can now create non-fungible tokens and experience the benefits of unique, digital ownership rights on the Ethereum network. All it takes is a few minutes of your time, a small fee, and something you feel is worth transforming it into an NFT.
NFTs are the collectible cards of today’s world. Instead, they are unique and exist on the blockchain. With the rise in the popularity of NFTs, every blockchain project wants to add an NFT marketplace to its platform. However, creating a thriving NFT marketplace requires robust integration with an underlying protocol.
DeFi Yield Protocol has launched its new NFT Marketplace to help any user (artist or not) mint and sell their works of art.
What is the DeFi Yield Protocol NFT Marketplace?
The DeFi Yield Protocol NFT Marketplace is a platform that allows you to trade and create non-fungible tokens. You can mint your own NFTs on Ethereum, soon it is also going to be available on Avalanche and Binance Smart Chain. The users will be able to even transfer between the blockchains. Collectors can buy NFTs from its inbuilt marketplace for a fixed price, later also the auction will be available. The lower transaction costs and the environmentally friendly approach of the DYP’s NFT dApp distinguish it from other dApps. When you sell the collectible on the marketplace, you will be charged a 0.30% payment. All the funds raised from the selling of the NFTs will be used to buy and burn DYP tokens.
How to create your own NFT
One of the most exciting features for creators on the DeFi Yield Protocol NFT marketplace is minting non-fungible tokens. Although other platforms let you create NFTs, DeFi Yield Protocol is one of the easiest and cheapest platforms allowing you to quickly mint non-fungible tokens.
Within five minutes, you can have your collectibles live and ready to trade. You can also deposit and withdraw the tokens to a compatible wallet or another marketplace.
Before you can start creating, buying, or selling NFTs on DeFi Yield Protocol NFT Marketplace, you’ll need to open a MetaMask wallet. If you already have a wallet on MetaMask, there’s no need to open a new one. You’ll also need some cryptocurrency on the MetaMask wallet (DYP and ETH) if you want to create or purchase NFTs.
Minting an NFT
Begin by clicking on the [Connect Wallet] from the DeFi Yield Protocol NFT Marketplace homepage.
Continue by clicking on the [Create NFT] from the DeFi Yield Protocol NFT Marketplace homepage.
After uploading the image, gif, or file you want to turn into an NFT, you can start filling in your non-fungible token’s details like:
Make sure you have enough DYP and ETH for the fee and click [Create]. You will need 10 DYP tokens and some ETH for the Ethereum network fees.
After you have click Create and confirmed the transaction, you will need to stay on the page; don’t reload or press back button! You will be automatically redirected to your account page once we’ve worked out everything!
After the transaction is confirmed, you will be redirected to your account page. Your NFT has been created, now you need to click List to place the NFT for sale; before we place the NFT for sale, we will update our account page, you can modify:
- Artist Name
- Artist Bio
We have successfully updated our account page and now the users can see the name, avatar, and bio under the seller’s profile. Please note that all these transactions are free of charge, you will just need to sign the transactions.
To sell an NFT, head to your [Collections] and click the NFT you want to list. Click the [List] button to customize your sale.
After you have clicked the [List] button you will choose what cryptocurrency you would like to receive as payment, DYP or ETH. Once you have chosen the selling currency you will then see a [Price] field where you can choose how much you want to sell the NFT for.
Once the transaction has been confirmed you will see the NFT placed for sale in your account and on our Marketplace. Please note that if you want to change the price of the NFT or remove it from sale, you just need to click the [Unlist] button.
Now that DeFi Yield Protocol offers its own NFT Marketplace, is a monumental achievement for the DYP ecosystem as it will open various opportunities for the artists and the art world.
About DeFi Yield Protocol
The DeFi Yield Protocol (DYP) is a unique platform that allows virtually any user to provide liquidity, receive rewards in ETH for the first time since DeFi started, and use an anti-manipulation feature to convert the rewards into ETH without overly affecting the price. The core feature of DeFi Yield Protocol is the decentralized tools dashboard (DYP Tools).